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CNBC
Jan 14, 2013 7:00pm EST
said this afternoon we could hit the debt ceiling and exhaust all the extraordinary measures he's been taking as soon as one month from now. >> you know, john, 2010, 2011, the 2012 he negotiated. he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic sta
CNBC
Jan 23, 2013 1:00pm EST
to the breaking news in washington. a vote on the debt ceiling. we will get to john harwood in a moment on what it means for the white house and senate. but first, apple eamon javers on the hill. >> we expect it to pass, maybe tighter than republicans would like the vote count to be, but ultimately what the pleasure would do is extend the debt measure through to may 19th and politically what it does is rearranges the order of the fiscal fights we will have over the next couple of months and it means we will fight first over the sequester. remember that's that across the board budget cut postponed during the fiscal cliff fight in december and january. now that will be the first fight up at the beginning of march. republicans feel that that is a much more safe political ground for them to fight on than to fight over the debt ceiling which of course could threaten a default on the nation's obligations so we do expect this vote within the next couple of minutes here to pass by republicans, then it will go over to the senate side and the white house has signalled they might in fact si
CNBC
Jan 22, 2013 4:00pm EST
an hour. >> expected to tee off a vote on the debt ceiling bill. what's their new plan? we'll go live to washington next, and even with the immediate threat of the debt ceiling ahead, another's contrarian view coming up. >> chip murky's quarterly result are due out now. those numbers coming up as we continue on the "closing bell." . ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. there. i said it. they don't have pictures of my kids. they don't have my yoga mat. and still, i feel at home. could it be the flat screen tv? the not so mini fridge? ♪ the different free dinner almost every weeknight? or maybe, it's all of the above. and all the rest. am i home? nope. but it almost feels that way. homewood suites by hilton. be at home. >>> all right. they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up an
CNBC
Jan 16, 2013 1:00pm EST
congressional vote on raising the debt ceiling. the white house has said, indicated through the spokesman, that they have no interest in doing that. they don't think they are entitled to do that. why do you think they are so cool on this idea and can they envision their point of view changing. >> if congress is ultimately so irresponsible that it plunges this country into default, it will be a new day for the president and he will have to decide whether to use that authority to rescue the economy from catastrophe. i can see why the president would be restrained on it. he wants to negotiate number one. he wants congress to be responsible, number two. you know, in the past, the debt ceiling was an opportunity for grand standing by both parties. in fact, senator obama voted against the debt ceiling increase. but it's been weaponized now. it has gone beyond grand standing into lectures on fiscal responsibility to justify -- go ahead. >> i see that and i absolutely -- i understand that. but one of your colleagues yesterday, tom grays of georgia, says the president is wrong to think that the debt cei
CNBC
Jan 23, 2013 9:00am EST
suspend the debt ceiling until may 19th. that sets the stage for a possible floor vote sometime today. our chief washington corner john harwood is live in washington with more on that. good morning, john. >> good morning, carl. we have a fascinating test coming up probably within an hour of the evolution of this house republican majority. what i'm talking about is the proposal that you just made reference to to suspend the enforcement of the debt limit until may. the leaders have attached to this a provision that unless budgets are passed by the house and senate, the pay of members of congress is going to be withheld. nobody knows if that's constitutional and everybody knows it is a cover for a strategic retreat from the principle that john boehner articulated earlier that the only amount of debt limit increase that's going to pass is going to have dollar for dollar spending cuts. that's very hard to do, for democrats, for republicans, for anybody in washington, and so he's backed away from that, and now he's going to try to see if he can pass it with republican votes. the impor
CNBC
Jan 23, 2013 12:00pm EST
where a house vote on extending the debt ceiling is expected within the next half an hour. we'll look in live when it happens. but first our top stories, waiting on apple. america's most valuable company reports earnings today after the close, and with shares down 30% from the highs, the stakes could not be higher. cnbc's jon fortt is live in silicon valley with the latest. jon? >> reporter: hey, scott. the main number to watch in this report is iphone sales. that's going to have the biggest influence on margins. if the iphone outperformed, it's also going to have an impact on revenue and ep s. take a look at some estimates out there for iphone sales. i think the street's consensus is between 46 million and 48 million units with some moving higher in recent days. for ipad sales consensus is around 23 million or 24 million units. here is the thing i keep coming back to. verizon's numbers yesterday, i know it's a fool's errand to extrapolate out to a global iphone, apple's penetration into verizon hit ridiculous levels last quarter. verizon activated more old iphones than total android
CNBC
Jan 23, 2013 6:00am EST
vote on extending the debt ceiling. there is a new plan the house will take up which would say no one in the house of congress that doesn't pass a budget should get paid after i believe may 19th or something. is that a plan that would also pass in the senate? >> it might, becky. i've got give the house credit for focusing on the real underlying cause of all this government by cliff we've been living through,s which the fact that the senate doesn't function. senator reed chooses not to do a budget resolution for three consecutive years, we did no appropriation bills, no bill to address the debt ceiling and the consequence of this is we end up at midnight on december 31st with a gun to our head trying to get something done at the last minute nobody's had a chance to look at. what the house is saying is, it's about time the senate actually did what any law requires, which is pass a budget. and begin the process of setting the parameters for how we will solve this problem and live within our means and how we will eventually get on a sustainable fiscal path i hope will happen sooner than l
CNBC
Jan 18, 2013 1:00pm EST
be worried about the debt ceiling and yet we had word that gop controlled house might have a deal. might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the heavy side today. if you think that is good news pushing the debt ceiling out for stocks and i think generally would you look at it as good news, it certainly is fairly muted here. as for the major indices for the week, what simon was just talking about, there are deeper cyclical changes. big industrial names have been generally outperforming and that is very good news, if you think the global economy, those stocks would more closer would the global economy. >> you get this, this real tight hugging of the flat line fri
CNBC
Jan 22, 2013 1:00pm EST
say they're going to have a vote to extend the debt ceiling. they say they will raise the $16.4 trillion cap enough to extend the debt ceiling to mid-may. on march 1st, you have the sequester, when the spending cuts will kick in. about $85 billion of cuts automatically to defense and domestic spending. the risk there is a drag to the gdp. on the 27th, current law on the government funding runs out that forces a drama over a continuing resolution, or you face the risk of a government shut down. on april 15th, that's the date by which the house would force congress to pass a budget or see their pay cut. the risk there, of course, is members of congress might have to go quite some time without a paycheck. tyler? >> thank you very much, eamonn. >>> the gop originally wanted to tie the debt limit raise to spending cuts. so are republicans backing down as some in their own party say or is it just a shift in tactics? scott garrett is back with us, a republican from new jersey and vice chair of the house budget committee. welcome back. great to see you again. >> good to be back with you
CNBC
Jan 21, 2013 11:00am EST
have been a force forex tending debt ceiling in order to gain some time to negotiate. i think all of that argues in favor of some time to get the right things done. >> chuck gabriel, how did you read or hear the president's passage where he talked about medicare and social security and he said the commitments we make to each other through medicare, medicaid, social security, these things do not zap our initiative, they strengthen it. they do not make us a nation of takers, they free us and make this country great. that felt to me like a bit of a stake in the ground by the president. >> yeah. you know, the president last week cast doubt on whether republicans believe in the principles and functions of social security and medicare, etc. so in some respects i think this is kind of a new, improved version of what president clinton did when he was facing a republican congress. he was talking about family values back in the '90s. he said i want a government that values families. and as the president said, we don't need to relitigate this today, but we need a government that will take care
CNBC
Jan 23, 2013 4:00am EST
to extend the u.s. debt ceiling for nearly four months. that bill is expected to get almost unanimous support from the republican caucus, meaning it will pass. democrats would prefer a longer term solution. senate majority leader harry reid has expressed support for the house bill. the white house says president obama won't stand in the way of it becoming law. ross? >> yeah. >>> we've been asking as a result here in davos how well u.s. lawmakers' persistent failure to come up with a permanent solution impact the u.s. economy. this is some of these views. >> the lack of decisions in the u.s., kicking the can down the road will be a drag. i think it will be a slower start in the united states as a result generally. >> actually very concerned because the issue is demography, medicare. it's not -- everybody focuses on the cost of running the state. about 15% to 20%. but in the short term, i think actually there will be answers. >> longer term, i think u.s. will be supported by the shale gas and the shale oil industry that is growing very fast at the moment. the energy bill will
CNBC
Jan 16, 2013 6:00am EST
banana republic, especially when you voted for refusing to raise the debt ceiling in 2006, talking about president obama. >> let me give you a history. when i came to the congress in 1977, one of the first days i was there, tip o'neill saw me, said, you look like a nice young guy, we need somebody to carry out the trash. he said carrying out the trash is passing the debt limit increase. i spent five years. this is a crazy story, doing little else than going to my colleagues in the domestemocraty to get a vote in the debt ceiling. everybody wanted to vote against it because it could be used against them in the election. everybody knew it had to pass and every time it would pass by one or two votes after i worked on it for weeks and weeks. i said, this is crazy. everybody knows you have to pass it, you already spent the money, like going in a restaurant and saying, i don't want to pay the bill. that's cracrazy. we passed something called the gephardt bill when you pass the budget, you pass the debt ceiling automatically to accommodate those budget figures. yes, you're right. this iss
CNBC
Jan 23, 2013 2:00pm EST
things. you are right, it buys time, kicks the debt ceiling back into may 19. that point they could borrow as much money as they like up to that point. after that they will reimpose a debt ceiling, they say. and suspect the pay of members of congress if their chamber of commerce hasn't agreed. politically wloo what it does is puts the debt ceiling fight down the list of political fights that are upcoming and it brings up the fight over sequestering. remember from the fiscal cliff. pe just kicked the sequestering back to the giping of march and political battle over spending cuts is something the republicans would much rather have as opposed to a fight over potential default on u.s. obligations in which they can be po portrayed as reckless. republicans liked it and voted for it but in the end the wlous says, it will sign the bill of the white house press secretary jay carney said it is not entirely perfect. take a listen. >> ideally we would extend a raise the debt ceiling for a long period of time. so that this is not a question. so that uncertainty that surrounded this issue of lat
CNBC
Jan 22, 2013 7:00pm EST
increase in the debt ceiling. darell should be candid in passing the ryan budget. >> in terms of wall street. the first vote is tomorrow. it is a vote to extend or increase the borrowing limit. but that is an action that wall street will look at in the house. first of all, you are right. and wall trestreet wants us to the fiscal progress. but, to mr. welch's point american families don't wait ten years to balance their budget. they don't call that extreme they go, that takes too long. we have to let them know that it is going to be a challenge to get to a ten year plan but we can do it if we work together. that is the message coming from congress right now. let's work together because if we don't i have little kids, my kid rz going to pay for this debt. they are the victims of this policy. >> i'm agrees with it. but americans pay their bills. they don't threaten to buy a freezer to stiff the payment because they are over the limit. >> that is what we are doing right now. >> before we get to the next generation and the generation after that. i would like to see some spending cuts right now. and i think that is
CNBC
Jan 15, 2013 6:00am EST
ceiling to negotiate. there's been three or four deficit deals reached during debt ceiling negotiations. that's what they've been used for in the past. in fact, you voted no on raising the debt ceiling in 2006, and some other things. and then to see him actually, he looked shocked that his loyal cadre of acolytes that someone would actually broach the subject that, you know, that he actually had a tough time answering. >> i think it shows the position he's in, though. he gets attacked from the right and the left. >> he doesn't get attack. the questions i want asked are never asked of him anywhere. >> he should come on "squawk." >> that's not going to happen. >> i'll get out. is that possible? >> no. >> i had a story but we'll talk about that one later. >> what's your story? >> we'll do it later in the broadcast. >> about nerds? >> what else would it be about? you want me to talk to here? i'm going to talk to here. coming up this morning's top stories, plus we're going to hop behind the wheel with nissan ceo carlos ghosn at the detroit auto show. first check this out, double the guest host, double the billionaires, double the fun on "squawk box." richard l
CNBC
Jan 17, 2013 9:00am EST
different guy when it comes to his interpretation of voting or not voting for the debt ceiling. but i happened in my opinion agree with you on your interpretation of the republicans and the retreat. i think that principle might be a good thing. centerpiece in how i look at life. when it comes to the chess game of politics principle lose. let's switch gears a bit. you also do a lot of writing regarding europe in a noticed today that the boon, the safe harbor trade in europe traded at 160. we haven't had that for a while. do you think the funding issues of europe are in the rear view mirror and some of these yields will crop up? >> there's no question. the safety play is over our. when interest rates globally start going up there will be a lot of -- there will be a lot of problems because i still think there's a lot of leverage in the system and i think high yield and high grade have moved to unsustainable levels. for right now for the next three to six months you'll start seeing higher rates in germany. you'll see higher rates across the board. it's hard to believe the fed is at cris
CNBC
Jan 22, 2013 4:00am EST
extend the debt ceiling deadline until may 19th. the gop measure doesn't specify an amount, but would lead let the government borrow what it needs to meet its obligation for that period. the strategy shift was agreed to last week and would let republicans focus on other fiscal fights in march such as ook automatic spending cuts delayed by the deal and the potential resolution. julian callow is still with us. julian, do you take this news as a positive development for markets or are you concerned about still the prospect of a government shutdown as others are calling for once we hit some of those further deadlines? >> yeah. i think that is quite positive, really. it shows that there is some desire not to up the vote too much on the side of the house. republicans at this stage. i think it's actually very important if we think about what it means for both financial markets and for the u.s. economy. obviously, financial market conditions have improved noticeably. there's less uncertainty around. that should come through in terms of stronger business confidence and that will mean hir
CNBC
Jan 15, 2013 9:00am EST
menlo park with the latest. then, jean sperling is here with the debt ceiling debate. what that means for the economy as the house prepares to vote on a package for hurricane sandy victims. one republican congressman says we need to consider big budget cuts to pay for that. congressm congressman mick mulvanel will tell us about his big plans. first, we'll talk about facebook. julia boorstin is live with the latest on that. good morning. >> good mormg. i expect 120 reporters and bloggers to be here, to be facebook's big mystery announcement. the social network has done a great job. face book hasn't leaked a thing. i expect mark zuckerberg to unveil a new product, something to improve users''s experience rather than a back-end change. consider the priority that zuckerberg and sandberg are making, i don't think the announcement will be a facebook phone. whatever it is, you can bet there will be obvious implications for facebook's bottom lines. what are the options? a new app store, a new gaming platform to compete with zynga and lots of talk about facebook's work on a social search engine. facebook stock has been bolstered by a slew of
CNBC
Jan 18, 2013 3:00pm EST
give you a hint. it was far less than $30 million. got our attention. and that debt ceiling crisis may be delayed until the spring. the house is reportedly getting set to vote on a three-month extension until next week and what that does is sets up a big fight on budget and spending cuts which could embroil the economy and stock market in a new round of uncertainty but it kicks that can down the road, so is that why stocks are a bit tempered today? we'll take a look at that. the dow right now up 12 points. we are flirting with those five and a half year highs, 13,610 and change would be that five and a half year high so we're just pleau that right now. the nasdaq down another eight points at the moment at 3127 and technology among the groups suffering today. the s&p, again, here we go again. any positive close for the standard & poor's 500 would be another five and a half year high for the s&p. let's take a closer look at the markets in today's closing bell exchange with our guests. andres, you and i were talking about the markets earlier. what do you think? getting ahead of ourselves with the rallies we've had so far this year. >> earnings matter, and we're i
Search Results 0 to 18 of about 19